Hedge funds rebounded last month as the Credit Suisse/Tremont Hedge Fund Index gained 1.61% in February with most hedge funds strategies reporting positive performance.

Six out of 10 hedge fund sectors were in positive territory last month with global macro and managed futures funds leading the way gaining 4.11% and 6.61%, respectively.

On the downside, convertible arbitrage and dedicated short traders lost 1.29% and 0.89%, respectively.

“Although February showed marked improvement from January, global markets continued to fall amidst rising inflationary pressures and slowing economic growth,” said Oliver Schupp, president of Credit Suisse Index Co.

“The S&P 500 Total Return Index fell -3.25% compared to -6.00% for January, while the MSCI Emerging Markets Index returned 9.49% for February. Although the federal funds rate did not change, economic indicators suggested that continued turbulence in the market remains.”